convinced of the hex

financial regulation reform passed last night. what does it mean? well, it means nothing. the bill contained nothing. no real regulation. no real change. it was as if your parents grounded you, but you still could do whatever the hell you wanted. "be home at midnight, unless it's a day of the week between monday and sunday, with monday being the beginning of the week and sunday being the end of the week, with all days considered to exist in between."

here is tyler durden at zero hedge. every word is true:

"as if anyone thought otherwise, the final shape of financial regulation has now been formalized and as Shanien Nasiripour at the Huffington Post notes, "many of the measures that offered the greatest chances to fundamentally reshape how the Street conducts business have been struck out, weakened or rendered irrelevant." congrats, middle class, once again you get raped by Wall Street, which is off to the races to yet again rapidly blow itself up courtesy of 30X leverage, unlimited discount window usage, trillions in excess reserves, quadrillions in unregulated derivatives, a TBTF framework that has been untouched and will need a rescue in under a year, non-existent accounting rules, a culture of unmitigated greed and all of Congress and Senate on its payroll. and sorry, you can't even vote some of the idiots that passed this garbage out: after all there is a retiring lame duck in charge of it all. we can only hope his annual Wall Street (i.e., taxpayer funded) annuity will satisfy his conscience for destroying any hope America could have of a credible financial system."